Top Gaming Tokens for 2024: Key Things to Keep an Eye on Before the Year Wraps Up
With the continuous evolution of blockchain and Web3 technology in gaming, tokens are becoming increasingly popular for their effectiveness and usefulness in decentralized systems. These tokens play a crucial role in in-game economies by providing rewards, governance, and empowering players to have full ownership of their digital assets.
As we near the end of 2024, the Web3 gaming industry is experiencing notable growth, with specific tokens standing out as successful performers. These tokens are not only leading advancements in blockchain gaming but are also attracting investors seeking promising investment opportunities.
1. Floki Inu, originally created as a meme token, is now aiming to establish itself as a strong player in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users have the opportunity to use and gain FLOKI tokens.
This is the process: Valhalla players can join battles and complete different tasks within the game to earn FLOKI. They can use this token to purchase in-game weapons, armor, and NFTs that are considered valuable assets in Valhalla. Additionally, a governance feature is being worked on that would give FLOKI holders a say in shaping the game's direction.
By 2024, Floki Inu has experienced significant growth, with impressive gains over the past 30 days and year. The circulating market cap of FLOKI stands at $1.33 billion, showing that more people are becoming interested in Valhalla.
Immutable X (IMX) is addressing Ethereum's scalability issue, focusing on gaming NFTs. The platform, utilizing zk-rollups, enables gas-free creation and trading of NFTs, making it an ideal choice for blockchain games. Due to its effectiveness, Immutable X has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Many developers and gamers prefer Immutable X due to its zero-fee transactions and quick scalability. The platform utilizes the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is poised for potential growth in 2024 as it continues to attract more games to its ecosystem.
3. Gala (GALA)
Gala Games is a platform for online gaming that utilizes Web3 technology to allow players to have actual ownership of in-game items and a voice in the governance of the platform. Gala recently reported that their games on Telegram, which offer rewards for participation, have attracted over 3 million users. This milestone comes as Gala prepares to launch its new token, $TREZ.
The GALA token is utilized by Gala for all activities within their games, making it essential for players who wish to engage with Gala's gaming content. The popularity of Web3 gaming appears to be increasing quickly, particularly on platforms like Telegram that are more user-friendly for a wider audience. Gala has a market capitalization of $730 million and is experiencing a rise in popularity.
4. XAI (XAI)
The XAI blockchain and token are closely monitored by many enthusiasts of Web3 gaming because of their emphasis on intricate, top-notch games and their strategy for scalability. XAI operates as a Layer-3 blockchain built on Arbitrum, a Layer-2 solution on Ethereum. This combination merges Ethereum's security features with Arbitrum's scalability, while also introducing a specialized layer designed specifically for gaming purposes.
XAI is entering the Web3 gaming industry and currently has a market capitalization of $139.67 million. The platform aims to establish itself in the gaming market by providing a combination of high performance and security, which are essential for top-tier gaming experiences.
Notcoin (NTC) is a digital currency that operates within The Open Network (TON) ecosystem and focuses on the GameFi industry. It offers a play-to-earn system that has gained widespread popularity, particularly because of its connection to a popular game on Telegram where players can earn Notcoins by simply tapping on their screens. This straightforward and innovative method has attracted millions of users to the currency and has even been proposed as a potential way for Telegram to generate revenue from its platform.
Although Notcoin's value declined in recent months, it has started to show signs of improvement and has been increasing in value over the past month. Additionally, Notcoin works well with Telegram and TON infrastructure, making it likely to continue being an important player in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is continuously evolving, with various tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens serve specific purposes such as facilitating in-game economies, enabling active governance, and supporting decentralized ownership of assets.
The tokens used in Web3 Gaming are said to be the future of blockchain gaming, but it's important to understand that the market can be unpredictable. It is advised for readers to conduct their own research before making any investments.
Writer
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong background in digital media and blockchain technology, allowing him to effectively communicate intricate ideas through interesting and informative articles.
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This blog offers information for educational purposes and should not be taken as financial, legal, or investment advice. The opinions expressed in the articles are solely those of the authors and may not represent the official stance of NFT News Today.
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